Tag Archives: BoG

The Monetary Policy Rate of the Bank of Ghana has increased its policy rate – the rate at which it lends to commercial banks – by 100 basis points to 28%. Within a year, the rate has gone up by a staggering 13.5% The Central Bank cited downside risks to …

The Ghana cedi is now selling at ¢12 to the US dollar in the retail or forex market, following days of sustained stability. This is about 0.86% loss in value since the beginning of the year. The Bank of Ghana is however quoting a dollar for ¢9.0002 on the interbank …

The Bank of Ghana has revoked the license of the Airport City Forex Bureau within the Atlantic Tower building and Trade House Forex Bureau Ltd, a popular forex bureau at the Marina Mall. The closure follows the failure of the operators to issue receipts and the breaching of Foreign Exchange …

The Information Minister, Kojo Oppong Nkrumah   has said some dollars will be injected into the economy soon to halt the sharp depreciation of the Ghanaian Cedi. Kojo Oppong Nkrumah said about $2 billion will hit the government’s account shortly. For the breakdown, he said $750 million is expected from …

The Ghana cedi has hit the ¢10 mark as it traded at ¢10.01 in the retail market yesterday August 18th, 2022. At the same time, the cedi went for ¢10 to a euro.   The cedi’s situation has become a major worry to businesses and household consumers, as its continuous …

The Ministry of Finance has dismissed social media reports that Databank and Black Star Brokerage – linked to Finance Minister, Ken Ofori-Atta and the Minister of State at the Finance Ministry, Charles Adu Boahen were handpicked by the Finance Ministry and the Bank of Ghana to act as Bond Market …

The Bank of Ghana has increased the policy rate by 300 basis points to 22%, after an Emergency Monetary Policy Committee meeting today, August 17th, 2022. The move is part of measures to address the risks to the inflation outlook. However, cost of borrowing is expected to go up significantly, …

The Bank of Ghana has given strong indication that the recently approved $750 million Afriexim loan facility by Parliament once disbursed, among other measures, will boost the foreign exchange position of the country and help restore confidence in the cedi. The additional measures include the cocoa syndication loan which is …

The cedi lost 19.2% in value to the US dollar in almost seven months of 2022. According to the Summary of Economic and Financial Data by the Bank of Ghana, the local currency went for ¢7.43 to the American ‘greenback’ on the interbank market as of July 22nd, 2022. It …

The Bank of Ghana (BoG) has indicated that it will appeal a Court of Appeal ruling directing the central bank to reverse the revocation of the license of Savings and Loans Company UniCredit in 2019 . The Bank of Ghana said it has instructed its lawyers to appeal the decision …